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ARTICLE · 27 MARCH 2021

Adieu – MEIS

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The Ministry of Commerce & Industry on 1st September, 2020 has capped benefit under the Merchant Export from India Scheme (‘MEIS') at Rs. 2 Crore per exporter for the period 1st September 2020

IndiaInternational Law
Smita Singh
Smita Singh
Rupesh Gupta
Rupesh Gupta
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The Ministry of Commerce & Industry on 1st September, 2020 has capped benefit under the Merchant Export from India Scheme ('MEIS') at Rs. 2 Crore per exporter for the period 1st September 2020 to 31st December 2020, displeasing the manufacturers in India. The ceiling may be subject to further downward revision to ensure that total claim under MEIS during the above-mentioned period does not exceed INR 5,000 Crore allocated towards MEIS by the Government.

MEIS introduced in April 2015, for manufacturers in India, was a pleasant surprise and can be termed nothing less than 'Cherry on the cake", in view of the various export incentives provided under Foreign Trade Policy.

The objective of MEIS was to promote the manufacture and export of certain notified goods. It was designed to provide exporters with incentives to offset infrastructural inefficiencies in India and its associated cost by providing duty credit scrips which could be used for payment of a number of

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